Shriram Finance Acquires 100% Stake in Shriram Overseas Investments for Rs.50.12 Crores

Shriram Finance Ltd. has approved the acquisition of 100% equity stake in Shriram Overseas Investments Private Limited (SOIPL) from Shriram Investments Holdings Private Limited (SIHPL) for a total consideration of Rs.50,11,93,620. The acquisition will be made at a price of Rs.158.28 per equity share. Additionally, the Board has approved the infusion of further equity share capital in SOIPL of up to Rs.500 crores to strengthen its capital base and support business growth. The transaction is deemed to be a related party transaction as both entities are part of the promoter group. The Reserve Bank of India has conveyed its approval for the acquisition, subject to compliance with certain conditions.